The Analysis Of Stock Market Volatility And The Related Study Of It And Macroeconomic Volatility

Chinese stock market has much higher volatility than mature stock markets. One of the distinctive characters is that the range and the frequency of the volatility are strikingly high. The holding period of the investors is very short and most of the trading activities are not investment, but speculation. This paper analyzes the characteristics of Chinese stock market volatility and explores the relationship between stock market volatility and macroeconomic volatility by combining quantitative with qualitative analysis. At the end of the paper , according to analyzing the positive and negative economic effect of volatility, this paper put forth corresponding policy suggestion.In the 1st chapter , the thesis qualitatively analyses the status quo of Chinese stock market, and the feature of the volatility. We find that the gap between the Chinese stock market and mature stock markets is very big. That chiefly shows that the whole volatility of the stock market price is big; the range of the volatility is big; and the stock marketvalue is small, but the market transaction is quick, and so on.In the 2^nd chapter , the thesis analyses the influencing factors in theories. Firstly, the analysis emphasis is laid on Finance Policy,CPI,and Inflation Rate, etc. when analyzing macro-polity factors and economic factors. This establish theory foundation for studying the relationship between the stock volatility and macroeconomic factors in the chapter five to select macroeconomic factors. Secondly, the thesis analyzes Trade Life Period,Government Policy, and the dynamic characteristic of the market subject in analyzing mid-factors. Finally, the chapter studies the self-circumstance of the listed company in analyzing micro- factors. We can see that the relationship is inseparable between the stock market volatility and macro-factors,mid- factors,micro- factors by analyzing above-mentioned three aspect factors.In the factor analysis of the above-mentioned influence stock market volatility., we found the reason that the alteration of these factors will change the stock value ,causing the stock market volatility, is vitally related with the alternation of the people's expectation. Therefore, the thesis will carry on the analysis to this in the next part.Aiming at the alternation of the people expectation, the Chapter Three carries on the inequilibrium analysis for the stock market volatility. Generally speaking, the economic foundation condition appears less big alternation suddenly, the...